TheGlobexTrader

TheGlobexTrader

Market Recap: The Nasdaq futures faced a downturn after the Chicago PMI reported a lower-than-expected figure of 46.9. This negative data spurred selling, pushing prices toward the $17,000 support level. Despite the drop, the market achieved a new 52-week high and formed a bearish trendline. Market Outlook: The focus now shifts to the upcoming S&P Global US...

TheGlobexTrader

Market Recap : Nasdaq futures nudged a new 52-week high on 12/27, displaying bullish vigor before the year's close. Economic data today showed a slight uptick in jobless claims and stagnant home sales, but the market stayed resilient, not dipping below the significant $17,075 level. The action hovered between $17,160 and $17,080, ending the session with cautious...

TheGlobexTrader

Market Recap : Today's session saw the Nasdaq futures making significant moves, primarily swayed by the 10:00 am U.S. Richmond Services Index, initially spurring a downtrend. However, the market returned impressively, finishing above the key green trendline and purple resistance mark and closing above the Initial Balance (IB) high. Moreover, the futures pushed...

TheGlobexTrader

Market Recap : The Nasdaq futures have showcased resilience, bouncing back from the dip on 12/20/2023 to break the 52-week high today. The last three sessions have reinforced the green trendline's role as support and edged us closer to the teal trendline, which is currently acting as resistance. We're witnessing a strong bullish momentum undercurrent as the market...

TheGlobexTrader

As we approach the year's close, the Nasdaq futures have painted a bullish canvas, steadfastly supported by the crucial ascending green trendline. This line, drawn from the beginning of the new contract period, has consistently acted as a solid floor, propelling prices upward even when faced with downward pressures. Market Outlook : Bullish Bias : Persistent...